Automotive Safety System Market – Global Industry Analysis and Forecast by 2026
The vehicle safety systems are the vehicle technology assisting in preventing and minimizing the collision injury. The safety systems include seatbelts and headrest that helps to hold the occupant in place during collision and minimize the chances of injury.
Increased demand of high speed vehicles and rise in number of young consumers are resulting in an increased rate of accidents. A number of vehicles are currently being integrated with advanced safety features such as blind spot detection, lane keep assist, and anti-roll braking system.
The Federal Motor Vehicle Safety Standard has made it mandatory for all vehicles in the U.S to have front seatbelts. Automakers have started utilizing the seat belt pretensioner in unison with the seatbelts in order to address the rising concern about occupant safety. The seat belt pretensioner senses sudden deceleration before a collision and locks the seatbelt and firmly holds the passenger in the seat and then, allows the person to come in contact with the deflating air bag. Seatbelts are the most widely employed restrain system and currently, it holds a prominent share of the market. Usage of airbags in the front and side of the vehicle, in order to minimize injury, is also a widely accepted safety restraint system. The front passenger and driver airbag is mandatory in North America. Similar government regulations in developing countries for airbag are anticipated to boost the market. China’s New Car Assessment Program has made it mandatory for all vehicles to have frontal airbags, considering China witnesses a high rate of vehicle production, the demand of airbag is likely to increase. Automakers such as Mercedes Benz and BMW have deployed active head restraints in their cars. The active head restraints are powered by a pressurized gas or springs to support the occupants head during a collision and minimize the chances of whiplash injury.
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The high cost of safety system are a restraining factor for the market growth as many low segment cars opt only for mandatory features such as airbags and seatbelts.
Globally the automotive safety system market for vehicle can be segmented based on type of restraint, technology, vehicle, sales channel, and region. In terms of type, the automotive safety system market can be classified into five segments. The seatbelts segment holds a major share of the market across all regions. Adoption of airbags in developing countries is estimated to boost the safety system market. The development in technology and reduction of price of the active head restraint is anticipated to further boost its penetration into the automotive safety system market.
Based on technology, the automotive safety system can be segmented into six segments. The antilock braking technology segment is witnessing expansion and is estimated to boost the automotive safety system market. The blind spot detection technology is gaining momentum due to the assistance is provides to the driver to spot oncoming vehicles.